$22M in Questionable Payments by AltaLink’s Parent Company Suspected

Neither Gwyn Morgan, SNC-Lavalin Board Chairman, nor Robert Card, SNC’s new CEO, were willing to respond to the most recent allegations of questionable payments by the Montreal-based engineering giant (Montreal Gazette, Canadian Press, CBC News, CJAD, University World News).

The Financial Post reports, “The comments came as Montreal’s La Presse newspaper reported in its Monday edition that SNC-Lavalin executives are suspected of having made $22 million in questionable payments to win a huge construction contract to build the McGill University Health Centre’s (MUHC) new megahospital.” CBC News reports, “The MUHC’s building site is deemed one of the most important government undertakings in North America. The $1.3 billion project was handed over to SNC-Lavalin and Innisfree in 2010.”

This latest allegation against SNC-Lavalin follows a raid last month of the MUHC’s Montreal headquarters by Quebec’s anti-corruption squad, and comes in the midst of an international corruption probe into alleged bribery, fraud and money laundering by SNC-Lavalin and multiple lawsuits against the company by shareholders.

(SNC-Lavalin, AltaLink {a wholly-owned subsidiary of SNC} and EPCOR are jointly building controversial new 500kV power lines in Alberta.)

~ by RETA on October 2, 2012.